Fintech startup Juspay which offers a platform for advanced payment has been exhibited a consistent report in its scale with 85% YoY growth in the last two fiscal (FY23 and FY22). Besides, The Company which is backed by SoftBank, tightly controlled its losses which remained almost unchanged in the fiscal year ending March 2023.

As per the statements filed with the Registrar of Companies, Juspay’s revenue from operations went up 88.5% to 213 crore in FY23 from 113 crore in FY22.

The company provides payment processing technology to merchants and is working behind offline payment solutions. Few of its flagship product offerings are Juspay Safe, HyperSDK, Express Checkout, and UPI in a Box.

The farm demands that, it has processed more than 100 million transactions with an annualized TPV (total payment value) of more than $500billion. Juspay earns the revenue primarily from Payment platform integration and related services. The company also gained 24 crore from interest on non-current and current investments which tallied Juspay’s total income to 213 crore during the previous fiscal year (FY23).

It also offers installment handling innovation to vendors and is working behind disconnected installment arrangements. Like other companies, the company’s employee benefits has grown as the largest cost center forming 62% of the overall expenditure. This cost surged 70% to 214 crore in FY23 from 126 crore in FY22. This includes 54 crore as ESOP cost which is non-cash in nature.

The Fintech startup’s expenditure on rent information technology, legal professional, advertising, and overheads cost go up to 53.8% to 343 crore in FY23 from 223 crore in FY22.

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